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Where Taxpayers and Advisers Meet

Am I liable to pay income tax in the UK if I move money to the UK to repay my student loan?

TheBigDoog
Posts:1
Joined:Tue Feb 28, 2017 11:44 pm
Am I liable to pay income tax in the UK if I move money to the UK to repay my student loan?

Postby TheBigDoog » Tue Feb 28, 2017 11:54 pm

I recently moved to the US started working.

Been trying to figure out the best way start repaying my student loan based on minimising the fees I have to pay.

Currently, I think the best way is to transfer money from my US bank account to my UK bank account and making my repayments from there. If I paid directly from the US I'd get charged an additional 1.50% fee on top of a crappy exchange rate.

Does anybody know if transferring money to my UK account to pay off the loan would then make me liable to pay UK tax on that income?

bd6759
Posts:4267
Joined:Sat Feb 01, 2014 3:26 pm

Re: Am I liable to pay income tax in the UK if I move money to the UK to repay my student loan?

Postby bd6759 » Wed Mar 01, 2017 6:04 pm

There is no tax liability on moving money like this.


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